A financial report from Constellation Brands, Inc. released Tuesday showed a slight drop in net profits and earnings per share, but experts say it’s no cause for alarm.

In its first quarter 2014 report, the Victor-based beverage alcohol company disclosed that net sales were at $673 million — a 6 percent increase over last year. Meanwhile net profits decreased 3 percent to $73 million and shareholders saw a drop in earnings per share to $.38 this quarter from $.40 per share in the first quarter of 2012.

But George Conboy, president of financial/investment company Brighton Securities, said it’s no reason for concern.

“Investors who are worried about a few cents up or down should look at the track record of the management team and the company,” said Conboy. “This is a company that has a great track record at making acquisitions and making those acquisitions pay.”

“What impacted that reduction in net income, and therefore the EPS (earnings per share), was an increase in the cost of grapes and other types of administrative costs,” she said. “Overall the business grew 6 percent. And that does not not take into account Constellation’s recent beer acquisition.”

Conboy said what the first quarter revealed was actually not out of the ordinary.

“They had some higher overhead costs — nothing serious, nothing that would indicate Constellation was having a struggle,” Conboy said. “Higher grape prices translate to slightly lower profits. We still believe that if Constellation can do anything with this beer business like they’ve done with the wine business, its going to be a great growth driver.”

The company completed its acquisition of Grupo Modelo’s U.S. beer business from Anheuser-Busch InBev for approximately $4.75 billion on June 7. The transaction includes full ownership of Crown Imports LLC, which provides Constellation with complete, independent control of the U.S. commercial business; a state-of-the-art brewery in Nava (Piedras Negras), Mexico; and an exclusive perpetual brand license in the U.S. to import, market and sell Corona and the other Modelo brands Crown currently sells in the U.S. market with the freedom to develop brand extensions and innovations.

“That’s one of the big pieces of the transaction that we’re so excited about,” said Blackwell. “We’ll be able to develop new beers, new packaging, new quantities, and really be able to focus on what the consumer wants.”